Emerald Health Therapeutics (TSXV: EMH) (OTCQX: EMHTF) (Frankfurt: TBD) recently announced that it has acquired all issued and outstanding securities of Saint-Eustache, Québec-based 8611165 Canada Inc., an Access to Cannabis for Medical Purposes Regulations (“ACMPR”) licensed producer and its affiliate 9353-8460 Québec Inc. (together, “Agro-Biotech”). Per the terms of the acquisition, Emerald will pay a total purchase price of $90 million to the shareholders of Agro-Biotech, half of which will be paid in cash with the remaining half to be paid in shares. Half of the cash consideration was paid upon closing and the balance will be payable on May 1, 2019. All of the shares were issued upon closing, however, in accordance with an escrow agreement, half of the shares will be held in escrow until May 1, 2019. In addition to its Health Canada cultivation license, Agro-Biotech’s assets include land and a 75,000 sq. ft. purpose-built facility. “Québec’s and the city’s affordable electricity and water will enable us to produce unique, high quality cannabis at very low cost. We are excited to become part of an established presence in Québec that will allow us to be highly responsive to customers in this province and beyond,” Emerald executive chairman Avtar Dhillon, MD, stated in the news release.
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About Emerald Health Therapeutics, Inc.
Emerald Health Therapeutics (TSXV: EMH) (OTCQX: EMHTF) (Frankfurt: TBD) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. It is adding a 500,000 square foot greenhouse in Metro Vancouver to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald owns 50% of a joint venture with Village Farms International, Inc. that is converting an existing 1.1 million square foot greenhouse in Delta, BC to grow cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald Health Therapeutics is part of the Emerald Health group, which includes multiple companies focused on developing cannabis and cannabinoid products with potential wellness and medical benefits. For more information, visit the company’s website at www.EmeraldHealth.ca.
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